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Economic History of Mexico

Just a few months ago, financial markets fell after Beijing cut the economy's growth target for this year to an eight-year low of 7.5 per cent. On Friday second-quarter growth came in at 7.6 per cent, a shade lower than expected, and markets rose.

Having reined in inflation, mainland leaders have made economic growth the priority for next year, as Europe's debt woes and America's slowdown weigh on prospects for its export trade. They emphasised the importance of stability, with steady policy settings, 'relatively fast' growth and stable prices, including 'resolute control' of house prices.

As International Monetary Fund (IMF) officials work through the weekend on a package to revive the Thai economy, they might cast a glance across the Pacific to the scene of their last emergency rescue job.